Tuesday, April 7th, 2009 at
3:51 pm
After a short sale the homeowner may still be liable for the difference between the amount owed on the mortgage and the amount of the sale. This is referred to as a deficiency. If a deficiency comes into place, the lender may sue for collection of the debt. Read the rest of this entry
Thursday, April 2nd, 2009 at
2:16 am
You must first determine the Fair Market Value of the property (FMV). You will establish this by looking at sold comparable properties in the area of the subject property. Be sure to compare homes with a close square footage, the same amount of bedrooms and bathrooms, and other characterizing features. You will want to use homes sold within the last 12 months and within 2 miles of the subject for the most accurate comparison.
Your next step is to determine Read the rest of this entry
